Evolution, the UK mid-cap stockbroker, on Tuesday delivered a gloomy prognosis for the new issues market after posting mixed interim results characterised by weak revenues from corporate finance and a stronger performance in secondary trading. Alex Snow, chief executive, said the domestic stockbroking sector was immune to losses in the credit markets and subprime mortgage sector, but would suffer amid reduced investor appetite for risky assets, which could affect corporate finance and IPOs, particularly from some emerging market areas such as the former Soviet Union.

This entry was posted by Gwen Robinson on Wednesday, September 12th, 2007 at 5:31 and is filed under Capital markets. Tagged with evolution. Edit this entry.